Sept. 3rd gold price trend analysis *LINK*

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International gold price slumped yesterday, once reaching down to 1270 after broke 1280, then stabilized at 1263. In today’s Asian trading time, gold volatilized and rebounded slightly, currently closed at about 1267USD/oz.

U.S. July construction spending and August ISM manufacturing PMI are strong, boost U.S. dollar index all the way up, even once breached 83, also formed a great pressure against gold. Currently gold daily chart price started correcting itself after yesterday’s long declining line, there is a need of market correction after oversold, gold receives the support from 1263 and bear the pressure from 1273.

http://www.hj9999.com/trading-guideline/trend-analysis/

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